William v



W. V. DAVIS.

COUPON FORM.

APPLICATION men JULY n. 1916.

1,315,472. Patented Sept. 9, 1919.

WITNESSES l/VVf/VTOH v I fizz-9921mm,

A 7TORNEY8 rue COLUMBIA PLANQGRAPH 60., WASHINGTON, n. c.

ram onnion WILLIAM v. DAVIS, or SAVANNAH, GEORGIA.-

couron-r'onivr.

Specification of Letters Patent.

Patented Sept. a i919.

Ap ncanai fired July n, 1916. Serial in. 108,565.

as an improved blank form of promissory note of the character in which a series of payments are to be made from time to t1me until the note is fully paid.

It is the present practice for banks and similar concerns to make out prorrnssoiy 1 notes for the full amount loaned and when a cash payment is made to surrender the old note and draft another note for the new principal. As these promissory notes frequently contain long and wordy stipulatlons and frequently have to be indorsed by numerous parties, it is apparent that much work is involved in this constant re-copy1ng and re-drafting of the stipulations and resigning by indorsers and that an abnormal expense is incurred, which is qulte burdensome, especially in the case of notes for small amounts.

Accordingly, one of the objects of my invention is to provide a compound form of promissory note, which will require but one making and which can be severed into portions and the several portions surrendered to the maker as evidence of the partial payments made on the total principal involved.

I attain this object broadly by providing a blank form including a main body portion containing all of the indorsements and stipulations, either general or special with the particular note involved and other data necessary for the protection of the holder of the note and to supplement the long form on the main body portion with a series of short form notes, preferably in the form of coupons, which may be detached from the ma n note as the several payments are made in succession and each of which notes or coupons will refer to the main body portion for a more detailed description of the full teXt of the note.

Various other objects and advantages of the invention will be in part obvious from an inspection of the accompanying drawlngs and in part will be more fully set forth in the following particular description of one form of blank embodying my invention, and

the invention also conslsts in certain new and novel features of construction and combination of parts hereinafter set forth and claimed.

In the accompanying drawing there is shown a blank form of instrument constituting a physical embodiment of my invention.

Theblank form illustrated includes two portions, a main portionA which has printed matter thereon including the usual promissory part B of the instrument together with certain stipulation C constituting part of this particular note. The blank is provided with the usual space D for the signa ture of the maker of the note and as is usual with promissory'notes, one or more indorsers may sign this instrument, either on any available blank space on the front of the instrument but following the usual custom an indorser signs on the reverse side. In some conspicuous partof this main portion there is an identifying character or number E usually in some distinctive type or made in some colored ink different from that usedin the body of the instrument so that this particular note may be readily identified among numerous other similar notes.

The other portion F is formed of a plu rality of coupons G preferably attached to each other and collectively attached to the main part A by weakened portions H such as the perforated lines usual in paper articles of this character. Each of these coupons contains written matter and all are similar in form and character and may be of some standard printed form which can be used with all notes of this character. This written matter includes a short promissory form and makes reference by mean of the character E, which is repeated on each one of the coupons, to the stipulations and other matter either written or printed in the body of the text on the main portion A. The identifying character E on the coupons is in some distinctive type or made in some colored ink different from that used in the body of the instrument. Each of these coupons is provided also with a space K for the signature of the maker of the note, so that each of these coupons forms a promissory note in itself, which by reference to the text of the main portion also includes all of the stipulations, indorsements, etc, which go to make up the complete note.

Preferably, the coupons are numbered progressively' with character L which numbered coupons are so arranged that the one most susceptible of being easily detached Will have the lowest value number and the several coupons are successively detached, one after the other from time to time as the amounts called-for by the coupon is paid. As the last or highest numbered coupon constitutes the last payment of the note, it is not necessary to separate the same from the main body of the note, as it is usual to surrender both the final coupon and note With the full payment of the total amount covered by the promissory note. In this case it is obviously unnecessary to Weaken the connection between this last coupon and the main body of the note and as a matter of fact the last payment may be contained in the body of the main portion rather than have a separate coupon.

By means of a device of this character, it is possible to draft but one note With one set of stipulations and one set of indorsers. The maker signs the main note and if necessary signs the several coupons. It is understood that each coupon refers by means of the identifying characteristic to the full text and has all the force and effect of the long Written or printed agreement embodied in the main portion of the note. As the different payments are made, coupon after coupon is detached and surrendered to the payor as evidence of the payment of this portion of the note, until finally upon the payment of the last installment the last coupon and the main portion of the note are surrendered to the payor. It is obvious that by this means there is eliminated the repeated re-drafting of the original stipulations and the necessity of procuring the re-signing by the maker and indorsers. In this Way a material amount of time is saved and expense and trouble eliminated.

Having thus described my invention, I claim:

A promissory note blank comprising two parts, amain part and a coupon part, the main part having Written matter thereon constituting a blank form of promissory note together with certain stipulations forming part of the note, said part provided with a distinct character by means of which the note may be briefly identified, the coupon part of said blank including a coupon adapted to be separated from the main part, said main part and said coupon provided with spaces for the signature of the maker of the note,said coupon having a short Written text thereon which constitutes a distinct promissory note and includes both a: duplicate of the said distinct character and a statement that the promise on the coupon is subject to the stipulations found in the main part.

Signed at Savannah in the county of Chatham and State of Georgia this 29th day of June, A. D. 1916.

IVILLIAM V. DAVIS.

Copies of this patent may be obtained for five cents each, by addressing the Commissioner of Patents, Washington, D. 0. 

